Renovated Residential Income
For Sale
$389,999
Pending
215 Hart Boulevard #3-L, Staten Island, NY 10301
Renovated apartment with private en-suite bathrooms, generous living space, storage, and access to building amenities.
Property Size1,145 SF
Days on Market1508
Property Features for 215 Hart Boulevard #3-L
General Information
Standard status
Pending
Size
1,145 SF
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Amenities
gym
outdoor bbq area
basement storage
live in super
Building Details
Building Size
1,145 SF
Year Built
1931
Listing Agency:
Tom Crimmins Realty, Ltd.
Listed By:
Steven Schwab · License #10401349960
(718) 370-3200
Source:
Karolinakemski.kw
Added: Jul 25, 2022
Changed: Sep 3
Last Checked: Sep 9 at 5:26AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Tom Crimmins Realty, Ltd.
Investment Insights
Based on property information with market context.
Renovated residential income property offering a two-bedroom, two-bath apartment with oversized bedrooms, each paired with a private en-suite bathroom. The layout includes an unusually large living room that can accommodate separate living and dining areas, along with a spacious eat-in kitchen. Ample closet space and additional basement storage provide practical utility.
Building amenities include a recently added gym and outdoor BBQ area. A live-in superintendent is also available on site. The property was built in 1931 and is positioned near the ferry and express buses on Forest Avenue, with parks, restaurants, supermarkets, and coffee shops nearby. The apartment is located at 215 Hart Boulevard #3-L, Staten Island, NY 10301.
Building amenities include a recently added gym and outdoor BBQ area. A live-in superintendent is also available on site. The property was built in 1931 and is positioned near the ferry and express buses on Forest Avenue, with parks, restaurants, supermarkets, and coffee shops nearby. The apartment is located at 215 Hart Boulevard #3-L, Staten Island, NY 10301.
Key Highlights
- Two‑bedroom, two‑bath apartment with oversized bedrooms
- Each bedroom has its own en‑suite bathroom
- Large living room with space for living and dining areas
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$25,392
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.51%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$507,840
$507.8K
Cap Rate 7%
$362,743
$362.7K
Cap Rate 9%
$282,133
$282.1K
Market Conditions
NOI Build-Up for 1,145 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$48.1K $42.00/SF
− Vacancy
−$1.9K −$1.68/SF
EGI
$46.2K $40.32/SF
− OpEx
−$20.8K −$18.14/SF
NOI
$25.4K $22.18/SF
Area
Staten Island, NY
Vacancy
4.00%
Lease Rate
$42.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$507,840
Cap Rate 7%
$362,743
Cap Rate 9%
$282,133
Alternative Uses
Best Use
Apartment 5plus
$362.7K
$317.4K – $423.2K
NOI $25,392 @ 7.0% cap · market cap 6.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$546.3K
$478.0K – $637.4K
NOI $38,243 @ 7.0% cap · market cap 9.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,236
Businesses Nearby
Explore this area
Business Placement
Demographics for 10301, NY
41,474
Population
16,631
Households
2.5
Avg Household Size
40
Median Age
38%
College-Educated
88%
High-School Grad
3.8 sq mi
ZIP Area
10,914
Density / Sq Mi
$84,937
Median Household Income
$50,140
Median Earnings
$1,697
Median Rent
$657,000
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Renovated apartment with private en-suite bathrooms, generous living space, storage, and access to building amenities.
Where is this residential income property located?
The property is located at 215 Hart Boulevard #3-L Staten Island, NY.
What is the asking price?
The asking price for this property is $389,999.
What are key features of this property?
This property features: Two‑bedroom, two‑bath apartment with oversized bedrooms; Each bedroom has its own en‑suite bathroom; Large living room with space for living and dining areas
